Live Streaming for Business: FAQs and the Answers

Do you know? If you search for “live streaming for business” on Google, the most frequently questions asked are:

Considering the spectrum of benefits gained from a business live stream, live streaming videos are undoubtedly the next big thing for businesses. Whether it is a fitness industry, educational, e-commerce, or banking sector, streaming videos in real-time have amplified business reach, lead conversions, and targeted revenue generation.

Business live streaming is immensely popular for promoting direct client engagement. In this blog, we will discuss some of the frequently asked questions on business live streaming, like why is live streaming good for business, how to start with business live  streaming, and which live streaming platform is best?

 How is live streaming good for business?

Just imagine what would you do if you get a chance to meet your target audience and interact with them in person. Wouldn’t it be easier for you to create real-time connections and solidify brand image?

Live streaming is bringing this to life by becoming the digital bridge between businesses and their customers and has become an integral part of business marketing activities.

 Three good reasons why businesses should  start a live stream

Here are some benefits of business live streaming that are powerful enough to pitch in.

1- Fostering viewer engagement –

Recently, New York Magazine surveyed a group of people. The result shows around 80 percent of respondents were interested in business live videos rather than going through business blogs.

 In the digital world, people have a hunger for live videos.  By hosting a live event, businesses can gain direct access to their target audience.

 A good live stream session includes several interactive elements like live polls, quizzes, chat, and Q&A. All these sections result in an interactive and result-worthy business live stream.

 2- Improve brand value –

One of the biggest advantages of live streaming for business is that your blog subscribers, social media followers, and clients, will have the opportunity to interact directly with corporate representatives. Live stream allows access to audience’s queries right away. It builds a strong business image among the audience, making them believe the company is trustworthy, which leads to conversions and a strong B2C relationship.

 3- Great way for product or service launch events –

The pandemic has forced businesses to stop having offline product launches or feature release events and now businesses have adapted the live stream event option. In this way, they didn’t lose their audience traction, got the client’s attention and targeted attendees while  saving a huge amount of money, which tends to be spent on the event menu, accommodations, arrangements, manpower, and other factors. 

Business live streaming has helped businesses find the most successful method of product or service launch. As an  additional feature, it also generates targeted revenue and grows the community around businesses.

 What do you need to start with business live streaming?

If you are completely new to the live streaming world, then it is natural to be nervous about things such as –  how to get started, how to excel in business live streaming, what to do in live streaming, etc. Live streaming holds immense power to turn back the clock on business success. To start  live streaming for your business, follow the  simple steps below –

Plan your video streaming strategy –

Live video streaming has tremendous power to drive instant sales. With the best streaming strategy, you can run a successful live stream without any hassle.

Livestream removes the restrictions on the number of attendees’ participation by allowing an unlimited number of viewers to join your live stream.

So what is the role of a video streaming strategy in a successful live stream? We can say without a proper strategy, it’s not going to give the 100% result, you expected or sometimes can be a complete fail.

A good video streaming strategy includes

• Plan live streaming content specifically developed for target audiences. Take some time to get to know your audience, their content choices, their interest areas, and their pain points, and then plan the content that can add value to their lives.
• To make the content interactive, during the live stream you can share your real-time experience and expertise, with which the audience can connect.
• You can also include quizzes and polls to improve audience engagement.
• Strive to respond to as many questions and comments as possible, whether or not they are related to your business. It makes the audience feel valued.
• In live streams, there is always a space for repurposing content. You can convert your live stream content into infographics, blogs, social media posts, or pdfs and share them with your audience.

Choosing the right live streaming platform to suit your business needs –

The golden rule to succeeding in live streaming is getting the support of a professional live streaming platform. It makes you feel at ease and professionally handles the business live stream.

The best benefit businesses can get from live streaming software is the ability to expand their business reach without any extra monetary or manual labor. But does professional streaming software cost a lot? Thankfully, no. The good streaming software is not necessarily expensive, and the best thing about some of the excel streaming software is that it is absolutely free.

The streaming market is growing, and the demand for high-quality streaming software has skyrocketed. Streaming software developers are working day and night to showcase their product by challenging themselves to have better UI support, quick setup, and high-class performance.

Now let’s have a look at some of the best live streaming software available-

OBS Studio –

OBS Studio is an open-source streaming software. It supports Windows, Linux, and macOS.

Some of the top features supported by OBS studio:

• Real-time audio/video capturing and mixing
• An intuitive audio mixer
• Support hotkeys
• Configuration options
• User-friendly UI

XSplit Broadcaster –

XSplit is considered one of the best free streaming software packages that offer unlimited customization.

The best features supported by XSplit software include:

• Multi-stream
• Scene presets
• Noise suppression
• Media slideshow
• Split mode
• Chroma key threshold

Wirecast –

The Wirecast live streaming software is best for Facebook Live. This streaming solution handles end-to-end streaming.

The best-in-class features supported by Wirecast include

• NDI output
• Wider device support
• Live scoreboards
• 8-track audio output

Follow live streaming best practices –

Decide live streaming channel-

Choose the social media platforms where you want to live stream. You can choose live streaming on Facebook, Twitter, Instagram, Twitch, etc.

Decide on the live streaming format –

Are you going to live stream an event? Or a simple Q & A, a product launch/declaration meeting, or a panel discussion. Businesses need to decide the format of the live stream beforehand.

Promoting on social media –

Without proper promotions, it will be difficult to gain audience attention. If a business wants maximum engagement along with lead conversions, it needs to do a good job of promoting and advertising their upcoming live streaming event.

 Do testing –

Before going live with your audience, it is always best to start a demo live stream. This way, you will get to know the functionalities, operations and also get the video quality checked.

 Conclusion

In the age of live streaming, if a business is not actively hosting live streams on social media, chances are there, it may lose its future leads. Live streaming for business holds immense power of solidifying a business’s revenue by exploiting the business lead generation.

So, if you are looking for a professional live streaming platform, Muvi Live could be your go-to partner.  The enterprise-grade live streaming services provided by Muvi sets it apart from the others. Some of the advanced and most buzzed live streaming features supported by Muvi Live are- DRM protection, Ultra low latency video streaming, Live DVR control, Live analytics, Multi CDN, Multi bitrate HD encoding, Live webcast, and many more.

Success comes to those who try! Try out Muvi Live’s 14-day free trial, where you get complete access to its CRM and explore Muvi Live’s supremacy over others.

 Start your free trial now!